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Saint George, Utah, What is the Difference Between a Will and a Living Will?

Everyone who owns assets and has loved ones should make sure they prepare for the asset distribution process beforehand. One essential component of this estate planning process is the creation of a legal will. There are two main types of wills. A regular will and a living will. A will is a document that a person allocates how their assets will be distributed after they die. The will has to be signed and will only be accepted in court if it fulfills all the legal requirements.

A living will, on the other hand, is also sometimes called an Advance Medical Directive. This document allows a person to mention what sort of medical life support they would prefer if they were in a terminal state and unable to make any decisions for themselves despite still being alive. It also gives a person the ability to appoint someone as a health representative who can make essential healthcare decisions on one’s behalf.

Creating these documents is not as simple as just writing everything down and signing the bottom of the paper. Individuals should reach out to estate planning attorneys near me as soon as possible so they can get help with their paperwork and so they do not forget to include vital information.

It is vital to keep in mind that a will does not avoid the probate process. These documents have no power until they are sent to the probate court and verified to ensure they are legitimate. Anyone who has assets, or a minor dependent must prepare a will so they can appoint a new custodian to the child who is orphaned. Those who die without a will, will have their assets distributed according to the laws of the state.

Understanding Beneficiary Designations in Saint George, Utah

Beneficiary designations can be used to avoid probate on some asset transfers. However, the laws vary state by state on what assets are allowed to be transferred without probate. In many cases, when a person is creating their estate plan, they will need a durable power of attorney. This means that they appoint someone whom they trust to make their personal decisions regarding finances and healthcare when they are unable to do it themselves.

Those who wish to create a detailed estate plan so their loved ones can benefit should make sure they reach out to an estate planning lawyer without any delay. Get in touch with an estate planning lawyer at the Law Office of Barney, Mckenna, and Olmstead, PA today.

Reach them at:

SAINT GEORGE

43 South 100 East

Suite 300

(435) 628-1711

or

MESQUITE

590 W Mesquite Boulevard

Suite 202A

(702) 346-3100

Maha Rehman is an expert in digital marketing, and a Certified Medical Writer (MWC). She completed her HBSc and Digital Marketing Management Certificate from the University of Toronto. She loves learning different marketing and writing techniques and holds a Google Analytics Individual Qualification (GAIQ) as well asa certificate in writing from Stanford University. She has been creating SEO content and legal articles for the last five years. Aside from creating marketing, legal and medical content; Maha loves creative writing. Several of her poems are published, and she is the author of the novel Sole Silence.
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